https://suzanneshpall.com

Suzanne Shpall from Suzanne Shppall Consulting with advice on where to spend the first money on your new business.

Startup Fund Allocation Strategies

Mary and Suzanne discussed the challenges and strategies for startups when allocating their first funds. Suzanne emphasized the importance of focusing on activities that validate product-market fit and drive traction, such as creating a minimum viable product (MVP) and conducting market research. She introduced the "3 S's" framework—Structure, Safety, and Signage—to guide early spending decisions. Mary highlighted the value of boot camps and strategic partnerships for skill gaps, while Suzanne recommended free resources like Sparktoro for market research. They also stressed the necessity of legal and operational setup, insurance, and a strong online presence for credibility and scalability. TO DO NEXT:

• Startups to prioritize spending on validating product-market fit or directly driving traction.
• Startups to invest in creating a Minimum Viable Product (MVP) for testing with real customers.
• Startups to focus on strategic marketing, key hires, or tech improvements that shorten the path to sustainable revenue.
• Entrepreneurs to consider attending startup business boot camps or workshops to gain necessary skills.
• Startups to conduct market research and test potential customers for product validation.
• Entrepreneurs to utilize free resources like Sparktoro for social listening and demographic insights.
• Startups to set up proper business structure, including legal entity, basic contracts, and accounting systems.
• Product-based startups to allocate budget for insurance, quality testing, and regulatory compliance.
• All startups to create a clear and informative website explaining their business and unique value proposition.

Book a free call with Mary Scott https://calendly.com/businessriff/15min

Daniella Tedesco fromNextRound, Bespoke Impact Philanthropy talking about a new way of funding startups.

Mary Scott interviews Daniella Tedesco from Next Round Philanthropy about their innovative funding model that combines philanthropy with startup investments. The donor-advised fund model allows investors to make tax-deductible contributions that are converted into equity investments in early-stage startups, particularly in life sciences and climate tech. Daniella explains that they typically focus on seed to Series B funding with grants ranging from $100,000 to $1 million, benefiting both startups and donors through charitable giving.

This is "Cause-based Funding" The donation/investment essentially works like a grant, and the Fund doesn't make money until the startup founder makes money

Links for Daniella Tedesco:

Website: https://nextroundphilanthrop

LinkedIn: https://www.linkedin.com/company/next-round-philanthropy/posts/?feedView=all

LinkedIn: https://www.linkedin.com/in/daniella-tedesco/

Email daniella.tedesco@nextround.ai

https://businessriff.com https://www.slpl.org/ptrc-2/

Eleanore Chadderdon from the St. Louis Public Library talks about Patent and Trademark Resources for Startups

Library Resources for Entrepreneurs

Mary Scott introduces Eleanore Chadderdon from the St. Louis Public Library as the guest speaker for the session. The topic of discussion is the resources available at public libraries for entrepreneurs, specifically focusing on patents, trademarks, and other intellectual property. Mary emphasizes that the library is an underutilized resource for startups and expresses her excitement about sharing this information with the audience.

Intellectual Property for Entrepreneurs

Eleanore Chadderdon, a librarian from the St. Louis Public Library, discussed the importance of intellectual property for entrepreneurs, focusing on trademarks, patents, copyrights, and trade secrets. She explained that trademarks protect brands, logos, and slogans, and registration with the USPTO provides additional legal protection. Eleanor emphasized that librarians can guide individuals through the process of protecting their intellectual property by providing resources and directing them to the USPTO's website. She also advised that while hiring an attorney is recommended, there are free legal resources available, such as the USPTO's patent pro bono program and law school clinics.

https://www.slpl.org/ptrc-2/

https://conversionalchemy.net/

Chris Silvestri from Conversion Alchemy talks about the Messaging Gap for Startups

Aligning Messaging With Audience Needs

Mary and Christopher discussed the messaging gap that many startups face, where they focus on their product or internal knowledge rather than aligning their messaging with their audience's needs and motivations. Christopher explained that effective messaging should match the conversation prospects are having when they encounter a company's materials, emphasizing the importance of addressing pain points and unique qualifications to solve problems. He introduced a matrix with four quadrants to illustrate the ideal position of having both a strong point of view and alignment with audience needs, achieved through customer research.

Journey From Software to Copywriting

Christopher shared his journey from software engineering to full-time copywriting, highlighting his interest in decision-making processes and B2B environments. He emphasized the importance of understanding customers and their language, especially for startups, and suggested using AI to simulate ideal customers when conducting limited customer research. Mary and Christopher discussed the value of customer research and effective messaging, and Mary encouraged startups to book a call with her for further assistance.

https://www.linkedin.com/in/christophersilvestri

https://maikosakai.com

https://businessriff.com

Maiko Sakai from Airtight Concepts talks about Using Quizes to Generate Leads for Startups

Quiz Design Strategies for Startups

Mary and Maiko discussed the differences between quizzes and surveys, emphasizing that quizzes focus on the user's experience while surveys focus on organizational data. Maiko advised startups to create engaging quizzes tailored to their business model, suggesting educational quizzes for SaaS companies and product recommendation quizzes for physical product startups. She recommended talking to potential customers to understand their needs and using 7-13 questions to create distinct archetypes. Maiko also advised against intuitive quiz creation processes and recommended starting from the desired outcomes, using the MECE (Mutually Exclusive, Collectively Exhaustive) concept to ensure comprehensive and non-overlapping results.

Quiz Project Collaboration Discussion

Mary and Maiko discussed Maiko's expertise in creating quizzes and audits for startups, with Mary expressing interest in hiring Maiko for a quiz project. Maiko offered to provide a PDF blueprint and conduct a quick audit, emphasizing the importance of clear communication and collaboration.

Free 10-Step Quiz Creation Blueprint: https://maikosakai.com https://linkedin.com/in/maikosakai https://x.com/maikosakaibiz https://threads.net/maikosakaibiz

Maartje van Krieken from The Chaos Games Consulting talks about 'turning business chaos around"

The main topic of their discussion was to provide tips to startups on how to prioritize and increase productivity amidst chaos.

Decision-Making Hygiene in Startups

In the meeting, Mary and Maartje discussed the importance of decision-making hygiene in startups. Maartje emphasized the need for clear decision-making frameworks, such as the Stanford method, to avoid biases and make informed decisions. She also highlighted the importance of understanding stakeholders' decision-making processes and tailoring pitches accordingly. Mary agreed, noting that startups often struggle with focus and the need for multiple pitch decks. Maartje offered her services as a mentor for further guidance, and Mary encouraged startups to reach out to her for support.

They also discussed the importance of decision-making hygiene in startups, with Maartje emphasizing the need for clear decision-making frameworks and understanding stakeholders' decision-making processes. Mary agreed, noting that startups often struggle with focus and the need for multiple pitch decks, and Maartje offered her services as a mentor for further guidance.

Chukwudum Chukwudebelu from the ChumEffect talk about the Developmental stages of a Startup

Developmental Stages for Startups

Mary and Chumze discussed the concept of developmental stages for startups, with Chumze sharing his personal experience of launching a business prematurely and reflecting on his mistakes. Chumze explained that businesses go through different stages, like babies, toddlers, teenagers, and adults, and each stage requires a different approach. He emphasized the importance of managing expectations and understanding the life cycle of a business. Chumze also mentioned that he has written a book on this topic and plans to write more series in the future.

Aligning Expectations in Business Integration

Mary and Chumze discussed the importance of understanding a business's unique needs and style of integration into the world, likening it to raising a baby. They emphasized the need for support, resources, and skills when starting a business, and the importance of aligning expectations. Chumze shared his personal experience of losing money in his first business and rebuilding it with the help of his older brother. They also discussed the need for financial mentors and the allocation of time for a business when working a 9-to-5 job. Chumze highlighted the crucial phase of hiring the first employee, which can make or break a business.

.Business Growth Stages: Baby to Adult

Mary and Chumze discussed the growth stages of a business, likening it to a person's life. They agreed that a business is like a baby when it's just starting, with a focus on structure and systems. As the business grows, it becomes like a teenager, making money but lacking operational structure, and finally, it becomes an adult, with a solid foundation and ability to expand quickly. Chumze emphasized the importance of having a system in place for adult companies, making them easier to consult for. Mary appreciated the analogy and Chumze's approach to business growth. Chumze also shared his book's website, https://businessasababy.com.